COLUMBUS, Ind. — Net orders for heavy-duty Class 8 commercial vehicles increased 84 percent in May 2010 compared to the same month last year, according to the market analysts at ACT Research Co.
In the latest release of the State of the Industry: Classes 5-8 Vehicles, ACT reported 13,231 net orders of Class 8 vehicles. More than half of the orders are scheduled for delivery in the third quarter, indicating truck fleets are looking to get new units on the road before the peak fall shipping season, ACT noted.
May net orders of medium-duty Classes 5-7 equipment grew by 33 percent from May 2009, boosting year-to-date growth to 18 percent. However, with continued weakness in the residential housing market and tightening state budgets, the medium-duty sector has not shown the same level of rebound as the heavy-duty sector.
“For a third consecutive month, the Class 8 data were solid from top to bottom in May,” said Kenny Vieth, partner and senior analyst with ACT. “With strong freight growth continuing to absorb excess capacity, trucker profits should soon follow. While there are still hurdles to clear, including used equipment prices and credit availability, the pendulum is swinging in favor of new truck demand.”
ACT publishes new and used commercial vehicle industry data, market analysis and forecasting services for the North American market, as well as the China CV market.
Kevin Jones of The Trucker staff can be reached for comment at firstname.lastname@example.org.
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